EXIN to buy €718M Ethniki Insurance majority stake

June 30, 2017

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Multi-line Insurance | Athens, Greece | Corporate Acquisition

Dutch insurance group EXIN has agreed to acquire 75% of Ethniki Hellenic General Insurance for €718 million, valuing the business at €958 million. The deal follows EXIN's previous purchase of 50% of AIG Greece last year, with its portfolio companies now set to generate around €1 billion in annual premiums in the Greek insurance market. Ethniki Hellenic's previous owner, National Bank of Greece, will retain the remaining 25%.